New York Mayor Eric Adams: Come Build Your Crypto Empire in NYC

“New York City is open for business,” Mayor Eric Adams said. “We want the next generation of crypto entrepreneurs, blockchain innovators, and fintech leaders to thrive and build their future right here in our city.”

The mayor’s remarks were delivered at a closed-door meeting with more than a dozen industry leaders and stakeholders, part of a broader effort to reposition New York as a crypto-friendly jurisdiction after years of industry friction with state-level regulations.

In a significant move, Adams announced the appointment of two key advisers to help shape the city’s crypto strategy: June Ou, co-founder of fintech platform Figure and a former chief operating officer at SoFi; and Richie Hecker, chair of investment firm Traction and Scale. Both will serve in unpaid advisory roles focused on fostering innovation, economic growth, and public-private collaboration in the blockchain sector.

According to City Hall, the new advisory team will help create a roadmap for responsible crypto innovation, aligning citywide digital asset initiatives with broader economic development goals, workforce training, and financial inclusion.

“This isn’t just about tokens and tech,” said a City Hall spokesperson. “It’s about using this technology to deliver better services, promote equity, and attract global investment.”

The renewed outreach to the crypto industry comes ahead of the first-ever NYC Crypto Summit, set to take place on May 20, 2025. The event is expected to draw top voices from the digital asset space, including developers, venture capitalists, and compliance experts, along with representatives from regulatory bodies and financial institutions.

Topics will reportedly include tokenized finance, AI integration, stablecoin regulation, and strategies for reducing crypto-related fraud, all part of an effort to “mainstream” digital assets in one of the world’s most heavily regulated cities.

City officials say the summit will also serve as a launchpad for new pilot programs that test blockchain applications in public infrastructure, housing, and digital identity systems.

New York’s relationship with crypto has long been defined by its controversial BitLicense framework, introduced in 2015. While designed to protect consumers and ensure compliance, critics say it created a hostile environment that pushed many startups and exchanges to friendlier states like Wyoming and Florida.

Mayor Eric Adams, known for his innovation-forward stance, appears to be gaining traction in transforming New York into a crypto-friendly hub. Since late 2024, several major digital asset firms have expanded their presence in the city, signaling growing industry confidence in the administration’s approach.

Notably, Circle, the issuer of the USDC stablecoin, relocated its global headquarters to One World Trade Center, marking a significant vote of confidence in New York’s fintech potential. Around the same time, crypto payments provider MoonPay opened its U.S. headquarters in SoHo, further cementing the city’s appeal as a base for blockchain innovation.

According to the Mayor’s Office of Technology and Innovation, more than 130 crypto and Web3 companies have established a foothold in New York since Adams assumed office in 2022, reflecting a broader shift toward embracing emerging financial technologies.

Adams, who famously converted his first three mayoral paychecks into Bitcoin and Ethereum, has remained one of the highest-profile crypto advocates among U.S. public officials.

In his remarks on May 12, Adams acknowledged the need for “smart regulation” and reiterated that financial innovation must be grounded in transparency, security, and consumer protection. He stressed that his administration would work closely with the New York State Department of Financial Services (NYDFS) and federal agencies to ensure that New York maintains its reputation as a safe financial jurisdiction.

Mayor Adams’ latest push underscores a broader shift in city policy, from cautious oversight to active engagement with the crypto industry. By creating channels for dialogue, attracting top talent, and hosting global summits, the city is seeking to reposition itself as a magnet for innovation in a rapidly transforming financial landscape.

For blockchain entrepreneurs navigating a volatile regulatory climate in Washington and elsewhere, Adams’ invitation may offer a rare blend of ambition and access, anchored in a city that remains one of the world’s most influential financial and cultural capitals.